Keefe, Bruyette & Woods Raises RLI (NYSE:RLI) Price Target to $168.00

RLI (NYSE:RLI) had its price objective upped by research analysts at Keefe, Bruyette & Woods from $160.00 to $168.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 21.55% from the stock’s previous close.

Separately, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $148.00 price target on shares of RLI in a research note on Friday, January 26th.

RLI Stock Performance

Shares of NYSE RLI opened at $138.22 on Wednesday. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.07. The firm’s 50-day moving average price is $144.49 and its two-hundred day moving average price is $138.70. RLI has a 52-week low of $123.04 and a 52-week high of $149.65. The stock has a market capitalization of $6.32 billion, a P/E ratio of 20.88 and a beta of 0.37.

RLI (NYSE:RLI) last announced its quarterly earnings results on Tuesday, January 23rd. The insurance provider reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.10. RLI had a return on equity of 17.02% and a net margin of 20.15%. The business had revenue of $433.52 million for the quarter, compared to the consensus estimate of $423.12 million. During the same quarter last year, the business posted $1.53 EPS. The business’s revenue was up 20.2% on a year-over-year basis. As a group, sell-side analysts forecast that RLI will post 5.56 earnings per share for the current year.

Institutional Trading of RLI

Hedge funds have recently bought and sold shares of the company. Blue Trust Inc. purchased a new position in shares of RLI in the fourth quarter worth approximately $25,000. Eagle Bay Advisors LLC purchased a new stake in shares of RLI in the second quarter valued at $25,000. Compass Wealth Management LLC acquired a new stake in shares of RLI in the fourth quarter worth $32,000. Gladius Capital Management LP grew its holdings in shares of RLI by 129.7% during the third quarter. Gladius Capital Management LP now owns 271 shares of the insurance provider’s stock valued at $37,000 after buying an additional 153 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new position in RLI during the fourth quarter valued at $41,000. 77.89% of the stock is owned by hedge funds and other institutional investors.

About RLI

RLI Corp., an insurance holding company, underwrites property and casualty insurance. Its Casualty segment provides commercial and personal coverage products; and general liability products, such as coverage for third-party liability of commercial insureds, including manufacturers, contractors, apartments, and mercantile.